Loss on house property u/s 24 & u/s 80ee

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

10 January 2014
IF SEC 80EE is applicable for only FY 2013-14,(LOAN TAKEN IN FY ONLY 2013-14), THEN RS 100000/-REBATE ON LOAN INTEREST WILL BE FOR ONLY 2013-14.

IT IS NOT REQUIRED TO BE SELF-OCCUPIED - IS IT CORRECT.

EARLOER LOAN FOR ANOTHER HOUSE

LOSS ON HOUSE PROPERTY 24 IF AN EALRIER LOAN TAKEN FOR ANOTHER HOUSE, CAN HE CONTINUE TO GET EXEMPTION OF RS 150000/-TOWARDS INTEREST CAN BE TAKEN.CAN THIS BENEFIT TAKEN IN FY 2013-14 ALSO.

@VaibhavJ

@VaibhavJ (Expert)

10 January 2014 Hi,

Under 80 EE benefit is available only for residential house property & he should not be owning any Res. property on the date of sanction of loan.

Thanks

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)

11 January 2014 The section is applicable for loan taken in FY 2013-14 only. But if the interest payable in FY 2013-14 is less than Rs. one lakh, the balance will be allowed in FY 2014-15.

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